The global strong magnet industry has entered a high-growth cycle driven by the global energy transition and the rapid development of high-tech industries. Strong magnets, represented by neodymium-iron-boron (NdFeB) permanent magnets, have become core functional materials supporting key fields such as new energy vehicles, wind power generation, industrial automation, and consumer electronics. From the perspective of production scale, the global strong magnet production has maintained a steady upward trend in recent years. According to industry data, the global strong magnet output was 10.2 million tons in 2021, and it is expected to reach 16.8 million tons in 2025, with a compound annual growth rate of approximately 13.2% during the period. This growth trend is closely linked to the continuous expansion of market demand and the continuous release of production capacity. While the output is growing, the global strong magnet production structure is also constantly optimizing, showing the characteristics of high-performance products becoming the main growth driver and the gradual concentration of production capacity to leading enterprises.

In terms of market scale corresponding to production, the global strong magnet market size is expected to grow from 15 billion US dollars in 2023 to 22 billion US dollars in 2025, with a compound annual growth rate of 21.3%. This growth rate is significantly higher than the average level of the global manufacturing industry, reflecting the strong market demand for strong magnets. The driving force behind the growth of production scale mainly comes from the explosive demand in downstream application fields. Among them, the new energy vehicle industry is the most important driving factor. It is expected that the global new energy vehicle production will exceed 25 million in 2025, driving the demand for strong magnetic materials to grow by more than 35%. Each new energy vehicle's traction motor needs a large number of high-performance NdFeB magnets. With the continuous improvement of the penetration rate of new energy vehicles, the demand for strong magnets in this field will continue to rise. In addition, the wind power generation industry is also an important pillar driving the growth of strong magnet production. The magnetic material dosage of a single permanent magnet direct-drive wind turbine reaches 600-800 kilograms. It is expected that the global new installed capacity of wind power will exceed 120 GW in 2025, directly driving the demand for strong magnetic materials to grow by 250,000 tons.

From the perspective of product structure in production, high-performance NdFeB magnets have become the main growth point of global strong magnet production. In 2020, the market share of high-performance NdFeB magnets used in new energy vehicle motors was 18%, which increased to 29% in 2022, and is expected to exceed 40% in 2025. This change is due to the increasing requirements of downstream industries for the performance of strong magnets. For example, new energy vehicles require magnets to have higher coercivity and temperature resistance to ensure the stability and efficiency of the motor under various working conditions; wind power generators need magnets to have excellent corrosion resistance and long service life to adapt to harsh working environments such as offshore wind farms. In response to these demands, manufacturers are continuously increasing investment in research and development, optimizing production processes, and improving product performance. For example, the grain boundary diffusion technology has reduced the usage of heavy rare earth by 50% while maintaining the performance of magnets, and the production cost per ton has decreased by 80,000-120,000 yuan. The breakthrough in hot-pressed NdFeB technology has increased the residual magnetism of magnets by 15%, and its penetration rate in the servo motor field has jumped from 5% in 2020 to 18% in 2022.

In terms of production capacity utilization, the global strong magnet industry has maintained a relatively high level of capacity utilization in recent years. From 2021 to 2025, the global strong magnet capacity utilization rate has remained at around 81.6%-82.0%. This indicates that the global strong magnet production capacity is basically matched with market demand, and the industry is operating stably. Among them, the capacity utilization rate of leading enterprises is generally higher than the industry average, while some small and medium-sized enterprises with backward technology and low product quality may face the problem of low capacity utilization. This situation will further promote the integration of the industry and the concentration of production capacity to leading enterprises. It is expected that the market share of the top five global strong magnet manufacturers will increase to 55% in 2025, and the industry concentration will be further improved.

In addition, the global strong magnet production is also showing a trend of green and low-carbon development. With the increasing global emphasis on environmental protection, governments of various countries have introduced relevant policies to restrict high-energy-consuming and high-pollution production methods. Strong magnet manufacturers are actively responding to these policies by optimizing production processes, improving energy utilization efficiency, and promoting the recycling of rare earth resources. For example, the industrialization process of recycling technology for rare earth permanent magnet waste is accelerating, and the recovery rate of rare earth permanent magnet waste is expected to increase from the current 30% to 50% in 2025. At the same time, manufacturers are also increasing investment in the research and development of rare earth-free magnetic materials to reduce their dependence on rare earth resources. For example, the CeFeB magnet developed by TDK in Japan has achieved a laboratory energy product of 42 MGOe, which provides a new direction for the development of the strong magnet industry.